Interview with: Lawrence Ong, KPMG Law Firm
What do you see as the main points that differentiate KPMG Law Firm from your competitors?
We offer a true multidisciplinary practice comprising of legal, financial advisory, tax advisory , and cybersecurity advisory services from all KPMG departments.
Which practices do you see growing in the next 12 months? What are the drivers behind that?
Cybersecurity, privacy and AI law (growth of AI and chatbots)
Renewables law (green energy transition)
Cross border investments (decoupling of China/US, on-shoring and near-shoring)
Family and estate planning law (growth of private wealth and de-risking of family assets)
What’s the main change you’ve made in the firm that will benefit clients?
We now have stricter quality controls involving multiple partner review of a project, without increasing client’s financial burden.
Is technology changing the way you interact with your clients, and the services you can provide them?
Somewhat. We use more AI in our service delivery and in analyzing client trends.
Can you give us a practical example of how you have helped a client to add value to their business?
A client approached us to help them negotiate a purchase of another company, which would greatly add to its value. Once we stepped in we realized the main issue holding up the purchase involved a proper valuation of the seller and emergency funding the seller required to stay afloat during the sale process. We therefore asked our financial advisory team to conduct a third party valuation that was acceptable to both sides, and to coordinate for private investor funding of a bridge loan. The deal was negotiated over 3 months and closed, purchase successfully accomplished.
Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?
In terms of developments in emergent fields such as renewables, AI, and privacy, and in traditional fields such as corporate governance and commercial compliance, our clients look to us for advice and guidance of their business activities. We expect such trend to continue over the next five years.